Delek US Holdings, Inc. (NYSE:DK) Raised to Buy at Zacks Investment Research
Delek US Holdings, Inc. (NYSE:DK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The brokerage presently has a $30.00 price objective on the oil and gas company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 12.36% from the company’s current price.
According to Zacks, “DELEK US HOLDINGS, INC. is a diversified energy business focused on petroleum refining, marketing and supply of refined products, and retail marketing of fuel and general merchandise. “
Several other equities analysts have also recently issued reports on the company. Royal Bank Of Canada reiterated a “buy” rating and issued a $32.00 price objective on shares of Delek US Holdings in a research note on Thursday, April 20th. Citigroup Inc. reiterated a “buy” rating and issued a $29.00 price objective (down previously from $32.00) on shares of Delek US Holdings in a research note on Saturday, April 22nd. Credit Suisse Group AG cut Delek US Holdings from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $28.00 to $26.00 in a research note on Friday, March 24th. BidaskClub upgraded Delek US Holdings from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 20th. Finally, Scotiabank reiterated a “hold” rating and issued a $26.00 price objective on shares of Delek US Holdings in a research note on Tuesday, April 11th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $23.14.
Delek US Holdings (NYSE:DK) opened at 26.70 on Friday. The firm has a 50-day moving average of $26.06 and a 200-day moving average of $24.41. Delek US Holdings has a one year low of $11.66 and a one year high of $27.82. The company’s market capitalization is $1.66 billion.
Delek US Holdings (NYSE:DK) last announced its earnings results on Monday, May 8th. The oil and gas company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.49. Delek US Holdings had a negative return on equity of 2.83% and a negative net margin of 2.37%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $897.24 million. During the same period last year, the business posted ($0.86) EPS. Delek US Holdings’s revenue for the quarter was up 33.4% on a year-over-year basis. On average, analysts anticipate that Delek US Holdings will post $0.07 earnings per share for the current year.
In other Delek US Holdings news, CFO Assi Ginzburg sold 8,936 shares of Delek US Holdings stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $25.33, for a total transaction of $226,348.88. Following the transaction, the chief financial officer now owns 94,431 shares of the company’s stock, valued at $2,391,937.23. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jared Serff sold 1,136 shares of Delek US Holdings stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $26.80, for a total value of $30,444.80. Following the transaction, the insider now directly owns 13,683 shares in the company, valued at approximately $366,704.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 238,345 shares of company stock valued at $6,072,096. 1.42% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. purchased a new position in Delek US Holdings during the first quarter valued at approximately $129,000. Janus Capital Management LLC purchased a new position in Delek US Holdings during the fourth quarter valued at approximately $212,000. Virginia Retirement Systems ET AL raised its position in Delek US Holdings by 6.3% in the first quarter. Virginia Retirement Systems ET AL now owns 9,145 shares of the oil and gas company’s stock valued at $222,000 after buying an additional 545 shares during the period. Clinton Group Inc. purchased a new position in Delek US Holdings during the first quarter valued at approximately $230,000. Finally, Virtu Financial LLC purchased a new position in Delek US Holdings during the second quarter valued at approximately $252,000. 96.79% of the stock is currently owned by institutional investors.
Delek US Holdings Company Profile
Delek US Holdings, Inc is an integrated downstream energy business focused on petroleum refining and the transportation, storage and wholesale of crude oil, intermediate and refined products. The Company operates through two segments: Refining and Logistics. The Company’s refining segment operates independent refineries in Tyler, Texas (the Tyler refinery) and El Dorado, Arkansas (the El Dorado refinery).
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